Speech by FS at launch event of 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters (English only) (with photo/video)
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Deputy Director-General Wang Binying (Deputy Director General of World Intellectual Property Organization, Ms Wang Binying), 尊敬的陳家昌副部長 (Vice Minister of the Ministry of Science and Technology, Dr Chen Jiachang), 張志成副局長(Deputy Commissioner of the China National Intellectual Property Administration, Dr Zhang Zhicheng), 王捷副局長 (Deputy Director of Bureau III of the Hong Kong and Macao Affairs Office of the State Council, Mr Wang Jie), 王偉明部長 (Director-General of the Department of Educational, Scientific and Technological Affairs of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, Dr Wang Weiming), distinguished guests, ladies and gentlemen,
Good afternoon. It is a great pleasure to join you today for the launch of the Global Innovation Index (GII) Ranking of the World's Top 100 Innovation Clusters.
And a warm welcome to the scientists, academics, policymakers and business leaders joining us from around the world. Today's gathering presents an exceptional opportunity to exchange insights, learn from one another, and explore new avenues for collaboration in innovation and technology.
Let me also express my sincere appreciation to the World Intellectual Property Organization (WIPO) for selecting Hong Kong as the host city for this landmark occasion. My gratitude also goes to the central authorities and organisations for their steadfast support in making this event a reality.
The evolving GII Innovation Clusters
For years now, the GII's Science and Technology Cluster ranking has been globally recognised as a rigorous assessment of innovation concentration. By analysing patent filings and scientific publications, it offers governments, investors and researchers a valuable snapshot of regional strengths and potential partnerships.
This year, the ranking has been revamped as “Innovation Clusters”, with the timely and judicious addition of venture capital deals as a key indicator. Innovation today is not only driven by ideas and talent, but also by capital - the essential fuel enabling inspiring ideas to emerge as real-world enterprises.
Hong Kong and the Greater Bay Area: a leading innovation powerhouse
Allow me to turn to Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Together, we are exceptionally well positioned to become one of the world's most dynamic and influential innovation clusters, with Hong Kong playing a pivotal role.
Under the “one country, two systems” framework, Hong Kong enjoys unparalleled advantages. We have seamless and often priority access to the GBA and the broader Mainland market. No less important, we uphold the rule of law, maintain robust intellectual property protection, ensure the free flow of capital, data and talent, and are fully aligned with international standards and best practices.
Let me highlight three areas - technology, capital and talent - in which Hong Kong offers unique value.
First, technology. Hong Kong is a centre of academic and research excellence. We are home to five universities ranked among the world's top 100 - three of which are in the global top 20 in artificial intelligence and data science, and two in the top 25 for medical sciences. Our city also hosts 15 State Key Laboratories and six National Engineering Research Centres.
In recent years, we have made significant investments to strengthen our entire innovation chain, from fundamental research to outcome commercialisation and advanced manufacturing. We are strategically focused on sectors in which we hold clear advantages: artificial intelligence, biotech, fintech, new energy and new materials.
We are also proactive in attracting leading global enterprises with cutting-edge technologies to Hong Kong. To date, we have welcomed more than 80 such companies, committing a total investment of about US$6.5 billion, while creating more than 20 000 high-quality jobs.
Collaboration with our sister cities in the GBA further amplifies our potential. Guangzhou and Shenzhen lead in application and deployment, while Dongguan and Huizhou have compelling strengths in advanced manufacturing. Together, these cities offer immense production capacity, commercialisation opportunities and access to a vast consumer market.
To accelerate this collaboration, Hong Kong is developing its Northern Metropolis. A strategic area bordering Shenzhen, it covers one-third of Hong Kong's landmass. It will include the Shenzhen–Hong Kong Science and Technology Innovation Co-operation Zone, which will pioneer cross-boundary policies that enable the seamless flow of talent, capital, data and other resources.
Second, capital. Hong Kong is Asia's premier financial centre. We offer deep liquidity, a wide spectrum of financing channels and a supportive environment for innovation.
Consider our stock market. In the first seven months of this year, Hong Kong led the world in IPO fundraising, with 53 new listings raising about US$16 billion. Follow-on fundraising reached US$44 billion, nearly double the figure over the same period in 2024. Over the years, we have introduced targeted reforms to boost the listing of innovation and technology companies.
Beyond the equities market, Hong Kong is blessed with a vibrant ecosystem of angel investors, venture capital and private equity funds, supporting companies at every stage of growth.
We are also committed to nurturing patient capital. In 2022, we established the Hong Kong Investment Corporation (HKIC). It invests directly and co-invests with private partners in strategic sectors such as hard tech, biotech and green technology. To date, the HKIC has invested in more than 120 projects across various sectors, leveraging more than five dollars of market capital for every single dollar it invested.
Third, talent, the cornerstone of successful innovation. More than home to top-tier universities and research institutes, Hong Kong offers exceptional quality of life. With a safe and cosmopolitan environment, world-class education and abundant career opportunities across finance, technology and beyond, Hong Kong is a city where talent can flourish.
We are attracting global innovation talent through a variety of admission schemes, including overseas Chinese scientists and researchers. With Hong Kong's international outlook and the GBA's vast market potential, we are confident that our region will continue to attract the brightest minds from around the world.
Concluding remarks
Taken together, Hong Kong and the Greater Bay Area combine the strengths of the San Francisco Bay Area and the New York Bay Area - bringing together world-class tech research, innovative companies, deep financial markets, manufacturing capabilities and a massive consumer base.
Ladies and gentlemen, later today, you will hear from prominent speakers across the GBA and other global innovation clusters. They will share their insights on the opportunities that lie ahead in their regions.
I trust that today’s dynamic discussions will inspire even greater collaboration across borders and disciplines. And I wish you an enjoyable stay in Hong Kong, Asia's world city. Thank you very much.
Ends/Monday, September 1, 2025
Issued at HKT 16:25
Issued at HKT 16:25
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FS attends launch event of 2025 Global Innovation Index Ranking of World's Top 100 Innovation Clusters